mohan
Level 3
‎01-19-2024 10:52 AM

I am confused the filing requirement of the recipient. If a home jewelry business sale his products to the relatives and neighbors totaling $12,000 in cash in a year from multiples customers and each customers payment does not exceeded over 1,000, does this business need to file 8300?   

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IRonMaN
Level 15
‎01-19-2024 11:48 AM

No


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Terry53029
Level 15
Level 15
‎01-31-2024 08:27 AM

This is from the instructions for form 8300. "Generally, if you're in a trade or business and receive more than $10,000 in cash in a single transaction or in related transactions, you must file Form 8300".

here is link: https://www.irs.gov/businesses/small-businesses-self-employed/form-8300-and-reporting-cash-payments-...

Also see: https://www.irs.gov/businesses/small-businesses-self-employed/irs-form-8300-reference-guide#typeofpa...

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